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BP considering IPO of US pipeline assets

BP considering IPO of US pipeline assets

19 July 2017 Featured, North America, Oil 0

It has been reported that BP is considering an initial public offering (IPO) of its pipeline assets in the Midwest and Gulf Coast, US.

Reuters has reported that the proposal would result in a new entity known as BP Midstream Partners.

The plan, which was apparently first considered five years ago, would include crude oil, natural gas and fuel pipelines in a master-limited partnership (MLP), and has been used by pipeline companies for tax purposes in the past.

BP would not be the first energy company to separate their pipeline assets: in 2014, Shell raised more than US$1 billion in the largest MLP IPO to date.

BP is expected to register the subsidiary by the end of the year if it intended to proceed with the plan.

For more information visit the Reuters website.

If you have company news you would like featured in Pipelines International contact Managing Editor Nick Lovering at nlovering@gs-press.com.au

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